Zimmer Biomet Trims FY24 Revenue Growth Outlook; To Acquire OrthoGrid Systems - Update
(RTTNews) - While reporting financial results for the second quarter on Wednesday, musculoskeletal healthcare firm Zimmer Biomet Holdings Inc. (ZBH) reaffirmed its adjusted earnings guidance for the full-year 2024, while trimming annual revenue growth outlook.
For fiscal 2024, the company now projects adjusted earnings in a range of $8.00 to $8.15 per share on revenue growth of 4.0 to 5.0 percent from last year on a reported basis, with constant currency revenue growth of 5.0 to 6.0 percent.
Previously, the company expected adjusted earnings in the range of $8.00 to $8.15 per share on revenue growth of 4.5 to 5.5 percent from last year on a reported basis, with constant currency revenue growth of 5.0 to 6.0 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.09 per share on revenue growth of 4.8 percent to $7.75 billion for the year. Analysts' estimates typically exclude special items.
Separately, the company agreed to acquire OrthoGrid Systems, Inc. a privately-held medical technology company, expanding Zimmer Biomet's hip portfolio with an artificial intelligence-driven surgical guidance system for total hip replacement.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Zimmer Biomet Receives FDA's 510(k) Clearance For ROSA Shoulder System
Zimmer Biomet Guides FY24 Above Estimates - Update
Zimmer Biomet Trims FY23 Revenue Growth Outlook - Update
Zimmer Biomet Promotes COO Ivan Tornos To Succeed Bryan Hanson As President And CEO
Zimmer Biomet Boosts FY23 Outlook - Update
Zimmer Biomet Receives FDA 510(k) Clearance For Identity Shoulder System
TSX Ends Modestly Lower
